Dallas to spend $60M on repairs, recovery from October tornado

The tornado that ripped through Dallas last month and left a trail of heavy damage across the area, including collapsed buildings and downed power lines, will cost the city $60 million in recovery efforts.

According to The Dallas Morning News, city Chief Financial Officer Elizabeth Reich said that about $45 million of that amount is uninsured, which is above the $38.5 million threshold for Dallas County to qualify for aid from the Federal Emergency Management Agency (FEMA).

Debris litters the Preston Royal shopping area in Dallas Oct. 21. (Photo by Ronald Martinez/Getty Images)

Debris litters the Preston Royal shopping area in Dallas Oct. 21. (Photo by Ronald Martinez/Getty Images)

TORNADO RIPS THROUGH DALLAS, LEAVING SIGNIFICANT DAMAGE AND THOUSANDS WITHOUT POWER

City officials said they expected public agencies to qualify for FEMA aid, while uninsured homeowners likely would not. That's because the state must show that 800 uninsured homes were destroyed or sustained major damage for individual property owners to qualify for assistance. If Dallas County qualifies for public assistance, 75 percent of public agencies' costs will be covered by the government.

The release of any aid would require a disaster declaration by President Donald Trump.

Reich said the city's emergency reserve fund currently holds about $35 million and she expects about $11.4 million from that fund to go toward repairs. She told the Morning News she wants to replace that money in the city's budget next fiscal year.

The home of Dallas Stars hockey player Tyler Seguin is pictured. (Photo by Ronald Martinez/Getty Images)

The home of Dallas Stars hockey player Tyler Seguin is pictured. (Photo by Ronald Martinez/Getty Images)

"We are most certainly close to the next recession. It’s coming," she said. "I don’t know when, but I want the city to be prepared for it and potential flattening of revenue."

CLICK HERE FOR THE FOX NEWS APP

The NWS said the tornado that ripped through North Dallas was an EF3 that had a maximum wind speed of 140 mph.

The twister touched down near Love Field Airport in North Dallas before moving northeast through the city, knocking out power for thousands. The tornado's path took it through the Walnut Lane area of Dallas before it moved through sections of Garland, Richardson, Rockwall and Sachse.

Click for more from FOX 4 News Dallas-Fort Worth.